Which of the following is true?
A) Much of the trade of the European Union (EU) countries is with EU countries.
B) Industrialized countries tend to trade relatively little and largely with developing countries.
C) Developing countries in Africa and South America tend to trade the most and largely with themselves.
D) All of the above are true.
A
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Which of the following statements is correct?
A. Managerial decisions are affected by both microeconomic and macroeconomic forces. B. Managerial decisions are affected primarily by macroeconomic forces. C. By and large, managerial decisions are not affected by either microeconomic or macroeconomic forces. D. Managerial decisions are affected primarily by microeconomic forces.
A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. This is an example of
A) cyclical unemployment. B) frictional unemployment. C) seasonal unemployment. D) structural unemployment.
Which barrier to entry into the market is created when firms engage in predatory pricing?
a. Control of a physical resource b. Intimidating potential competitors c. Legal monopoly d. Natural monopoly
Suppose that in a month the price of movie rentals increases from $2 to $2.20. At the same time, the quantity of movie rentals supplied increases from 100 to 110. The price elasticity of supply for movie rentals (calculated using the initial value formula) is:
A. 0.02. B. 0.2. C. 1. D. 50.